When an ascent is steep and it ends in sideways parallel movement and from there, it ascends again high, then this pattern is called a flag. The conditions for a perfect flag are 1. The pole must be steep, not slope (upto 75 to 85 degree). 2. Then the rectangle flag should never move to sharp ups or downs immediately. The duration for this linear movement should be atleast 4-7 days. 3. From linear movement the prices should ascend definitely without a dropdown. Height of the flag rectangle should be measured. Target is the height of the flag rectangle from the breakout. Stop loss is the same height as the target, but downwards from the breakout.
FORTUNE WAVES THE ‘FLAG’ FOR VEDANTA
